dimon: you too. lisa: can i take a picture real quick? dimon: of course you can.at cory and lisa needed to have some small wins along the way. being in business isn't about making a million dollars in the first year. it's about enjoying and celebrating the little wins, and then letting them mount up over time. cory: oh, wow. that was amazing. lemonis: he loved it. cory: yeah. lisa: like, i'm not built for this type of work. lemonis: yes, you are. lisa: it's not me. lisa: i don't think i can take the company where it needs to be. i think he can. lemonis: you can. i'm positive. i wouldn't be standing here. i know there's more inside of you, and i'm gonna keep digging because i know what you're capable of. lisa: it takes time. lemonis: it does take time, and that's trust. as we build trust with each other, that will help. lisa: that's hard for me to do. lemonis: i know, but i think you trust me more today than you did when you first met me. lisa: yes, i do. lemonis: and hopefully a month from now, you'll trust me more then than you do now. ♪ i've been uncomfortable s

this is bloomberg. ♪ this is bloomberg. ♪ vonnie: dimon doubles down. the ceo j.p.gan chase is , yieldsbearish treasury above 5%. denteven as the bench -- -- benchmark yield struggles to push above 3%. this.dimon said i think rates should be 4% today and you better be prepared to deal with 5% or higher, a higher probability than most people think. joining us with more, out with a new column today saying jamie dimon's call is a long shot. we'll get to your argue -- argument in a second, is it optimistic or pessimistic, the u.s. economy, or pessimistic in terms of we will see a lot of inflation? classic depends on whether you think inflation is a bad thing. the fed can try to get inflation up, it is definitely an optimistic outlook on the u.s. economy and 5% is high. we then seen the level since 2007. gdp number came for above 4%, considered a great combo. so it is a bold call and i am what the probability is. the probability is 0% or 1%, people think, how likely will this happen? banker. a how much is the color it -- how much is that coloring his reading of it? colle

speaking in colorado, jamie dimon said this.rates should be 4% today, and you better be prepared to deal of 5% or higher." >> definitely an optimistic outlook on the u.s. economy. 5% is very high. we haven't seen that level since 2007. it's a really bold call, and i'm sort of wondering what the probability is. he says there's a higher probability than people think, but if the probability is zero or 1%, how likely is this going to happen? ♪ >> food for thought, fodder for discussion. on bloombergts television what they thought of jamie dimon's bold call on rates. ♪ >> although it's possible, i think it's highly unlikely. we would need to see several factors. to be fair, we would need to see several factors to get to even 4%. we'd need to see mature breakout, higher wage inflation in the u.s.. haven't seen it that, although anecdotally it is there. we would need to see the ecb and the bank of japan really moving ahead on tightening prospects. if we saw all of that, then i think the whole rising u.s. debt picture would come to the

speaking in colorado, jamie dimon said this.should be 4% today, and you better be in prepared to deal of 5% or higher." and in >> definitely an optimistic outlook on the u.s. and the economy. will is a really 5% is very high. we haven't seen that level since everyone very 2007. you it's a really bold call, and i'm sort of wondering what the will be a i'm sort of wondering what the little a higher volatility were able probability is. and he says there's a higher in probability than people think, but if the probability is zero or 1%, how likely is this going to happen? ♪ >> food for thought, fodder for will will bring discussion. we asked guests on bloomberg him and followed paul and i television what they thought of jamie dimon's bold call on you for rates. ♪ in >> although it's possible, i you and you he will think it's negative highly unlikely. and willingly ahead i highly unlikely. we would need to see several factors. to be fair, we would need to see and i think that the whole idea several factors to get to even 4%. you like

jamie dimon is the name.e previously warned investors to brace themselves for 4% on the 10 year yield. he went further over the weekend to 5%. he also said he felt in the current market could last another two to three years. a senior economist at berenberg bank is with us. when you see jamie dimon calling for 5%, that is one of those big numbers. i am more focused on the fact that $78 billion of paper have come into the market. >> the key thing is from mr. dime's point of view, where he thinks current growth and inflation trends ought to head. want yields on 10 year -- bond yields on 10 year would not be -- i prefer bond yields a little bit higher than they are. my guess is we will break 3% around the turn of the end of this year and get near 4% toward the end of 2019. , notew is that bond yields just in the u.s., are not pricing in enough growth expectations. if that lasts too long you will get to a situation where bond yields, which are used to price other credit insurance audits, will simply be too low --

jamie dimon had a little bit to say. almost at the highs of the session, crude oil and futures up. we are going to see offshore yuan, the yuan has been weakening. how far will it go? it is to be seen. all of the commodities on the mover list are higher, including crude. are higher byes more than 1%. mark holman is here with us, chief executive officer of twentyfour hour asset management. good to see you. comment -- that jamie dimon comment that the 10 year yield should be up 4% and get ready for 5%, yes or no? >> it is not incredible. let's start by putting this in context. if we move from 3% to 5% overnight, that is a 16 point capital loss. tois right to warn markets get ready for because that is a big move. is it likely? we do not think so. happenf things have to in jamie dimon's favor for that to happen. mark: are we ready for that move? are we ready for an inverted yield curve? we have a lack of geopolitical problems in the marketplace, we are going to add 50 basis points to 10 year yields. that helps with steepness.

julie: jamie dimon is doubling down on higher rates. it is a higher probability than most people think. terminal, itt my is having trouble holding 3%. he also isn't talking about the timeframe here. what do you make of this? >> he is a smart guy, but he needs to talk to his bond traders. a time you come close to it, you see buyers come in, which pushes the yield down. what is this timeframe getting to four or 5%. you have a market that does not seem to be ready to go there. david: it is not clear to me what he is really seeing. julie: we have seen the fed say we are not seeing the wage growth we would have expected. to your point, it is unclear to me in what time frame he is calling for this 5%. the other thing to note is we continue to see investors pour money in. part of that is a democratic shift we are seeing. baby boomers are retiring. we see demand for bonds as well. about why these yields are not pushing through that 3%. one saudi arabia made a dramatic announcement to suspend all trade and investment with canada, they said they

jamie dimon calling for 5% 10 year yields. the longer end of the curve and go global. this is the average of g4 yields over a 30 year. donea look at what is over the last couple of years. absolutely nothing. you can see the curve just flattens, really's act and -- really stagnant. are we due? one person season going to 2.5% or more, which is why they got the red dotted line. that's the 10 year average. he's got another of factors, like economic growth and a number of central banks hiking, plenty to go on here. could we see this breakout? matt: both charts are fascinating and i think the yields story is much more today, so i'm going to have to give it to sebastian. interesting look at g4 yields on 30 year debt. dani, i like yours, too. keep it coming. this is bloomberg. ♪ ♪ >> china will waited out. the country says it is prepared for a protracted trade war. the tv as he steps into cushion the yuan. hsbc revenue makes the banks long-term bet on asia failed to produce significant growth. and brexit breakdown. u.k. is now warning

jamie dimon doubles down on r u.s.t's get to the bloomberg first word news. here is kailey leinz. kailey: the u.s. is ready to endure a protracted trade war. claimspset over weekend that from has the upper hand in dispute. i china does not fear sacrificing short-term interests. trump has now changed his position on his son's meeting with a russian lawyer at the trump tower during the campaign. it was to gather information on hillary clinton. that contradicted a statement he helped put together last year. president trump said the meeting was totally legal, but he did not know anything about it. another challenge from italy's deputy premier luis tamayo. it will be fine of italy can finances program for a hot packs, guaranteed income, and lower retirement age within the eu's deficit parameters, but he says he will not let the staying in the way. u.k.'s trade secretary is adding to the sense that the u.k. is heading for a messy divorce with the eu. blaming the commission for a lack of flexibility in talks. global news 24 h

jamie dimon is raining -- ringing the alarm even louder.he chief executive warns investors to prepare for treasury yields above 5%, going one step further than his previous call for a 4% yield. ingenuity, losing -- stepping down a ceo after 12 years at the helm, setting the ranks of female ceos in the u.s. saudi arabia gets tough. trade and investment with canada, making his this -- it is the second that saudi arabia has cut ties with in less than a year. and, jamie dimon ceo of jpmorgan, making it bold call on yields. he says he thinks rates should be 4% today and you better be prepared to raise 5% or higher, a higher probability than people think. the partte a column on of the yield. he joins us now. brian, break it down for us. let alone even at 3% 4% and we are already talking about 5%. >> it seems like a market is obsessed with round numbers. it was curious that jamie dimon made this call. theas after we made 3% for -- since after 2014. we are looking at five right now. i think what struck me was the idea that rates should be higher. i

ceos including tim cook, jamie dimon, others signing this. to the heart of the temporary work visas. they want to see significant changes because they feel this has caused undue stress. while they are commenting on immigration, they have been speaking out against trade. this is an expansion in terms of a critical assessment of the president's economic agenda. the president having said last week with regards to quarterly earnings disclosures, taking a position that is in line with business roundtable, something the business roundtable had called for early this summer. romaine: is this a matter of grievance or are they asking for specific actions from this administration to change immigration policy? kevin: a great question. they are specifically asking for is to note what they are calling inconsistent practices that are unfair and discourage talented and highly skilled individuals from pursuing career opportunities in the united states. that,tter goes on to say because of a shortage of green cards, many employees are stuck in an immigration pr

musk's statements take a page from jamie dimon, underpromise, overdeliver. he does just the opposite. keeps saying that they are cash flow positive. he keeps saying they're going to be profitable. never happens. keeps making very high production estimates on the model 3 which are never met or haven't been met. i mean this is a real problem for the company, if you keep overpromising and underdeliverring, at some point theket will look at you as a class half-full, class-empty as opposed to glass half-full, what you have despite today. first day in five days tesla finished the day up. just so you know. liz: part of might be within the record that the "dow jones newswires" are reporting here, they didn't get it from tesla. they say tesla expects to tap 500 million credit line. i told you that. they expect to have cash at the end of the q3, to be in the hundreds of millions of dollars higher than what they have at the end of q2. >> i think now they're under multiple investigations from, mr. musk's statement by, with regarding funding secured, to some of their oth

did you get a check from dimon >> no.o checks. >> there you go. >> i don't know where the money goes. >> we're a couple of months from fiscal '19, according to omb, will bring us our first trillion dollar debt year, right? >> yes. >> we have apple who has a trillion dollar market cap and you just kind of -- >> it's the year of the trillion. >> yeah. >> the chinese and their editorial by saying china has time to fight to the end time will prove that the u.s. eventually makes a fool of itself. >> wow okay that's rhetoric. >> it's rhetoric meanwhile, the yaun keeps going down. >> and inflation is going to come up. that's going to be a stock market where you have incredible stag inflation, which is why whoever is leaning on that thing. the chinese government will have to prop those up. >> yeah. there's a line in the sand. >> the impact on the consumer, though, is another -- if the dollar is strong, then it's costing you -- you're buying more stuff so conceivably you're offsetting the tariff and so you won't have to pass anyth

rate shock ahead jaime dimon says interest rates should be at 4% today, 5% not that far away.hat would that mean for the markets, the economy, and your portfolio? tariffs are working big-time that's what the president said this weekend is he right? we're going to comb through the numbers, and trump's tweets to see what's true and where the math may not quite add up. and grab your wallet and your backpack, we've got your stocks shopping list for all the important back to school

warren buffett and jamie dimon want to change quarterly reporting but the man "forbes" dubbed the foremost private equity scholar in the galaxy says they are just wrong. he will join us exclusively during this show. we are less than an hour to the closing bell. i'm cheryl casone. let's start the "countdown." cheryl: i'm cheryl casone. liz claman will be back tomorrow. this is breaking news right now. at this moment, president trump is meeting with the president of soccer's governing body, fifa. remember, the u.s., canada and mexico, all three countries, will be hosting the world cup in 2026. this is the first time the president is making public comments today. we will go straight back to the white house if he makes any news. we are monitoring news from the white house, as we always are. we want to focus on bigger news on wall street. we are looking at another day of records. the s&p 500 and nasdaq touching historic highs again as trade war fears fade. any gain for either major average will be their third straight record close, with the month of august winding down, believe it or not, the m

more savings and flexibility this idea by the way is not new hillary clinton warren buffett and jamie dimon have talked about this before so thank you very much for the update. but how of the european stability mechanism. the eurozone crisis is or is greece prepares for the official end up its bailout program on monday but is it really over here is more. than in august well there's been. plenty of talk about an economic recovery there's not much of it to be seen here on the streets. when you make this crisis is far from over there are a lot of cuts and a lot of difficult years ahead for us to kick up us a bit in the situation hasn't improved and it won't change anytime soon. i'll call mine it was hard but i were struggling to live on. this family business has been here for forty years giving up is not an option not as jr he's changed his business successfully during the crisis from selling luxury to bays to cut to size foam rubber like many business people he feels burdened by taxes and demands a long term strategy from the government in order to continue we have to reduce our taxes and we

i have to ask you about jamie dimon. 5% on the tenure. possible sometimes, but do you see that anything begins to be on the horizon when the tenure can barely break above? marvin: i think the flatter yield curve discussion we have, deterring inflation is different from runaway inflation. that wemr. dimon spew have seen over the last nine months to a year, it is a bold call. how tax reformn is -- how fiscal service will start to wayne. i don't know how we are so far above potential for the last year. haidi: i want to end with a quick word on equities. don't get too excited over the s&p come at this headline is always that we are within striking distance of a record high. if you break it down, just 4% of members on the s&p are at highs. very much shy of 200 and 80 stocks within 10% of all-time highs. that speaks to the lack of market breadth. you take a look at indicators, does it suggest to you that you are looking at a rally that is fragile? marvin: i think that what we have seen is the easy trade occur for the better part -- the faang st

morgan ceo jamie dimon says the u.s.hould be prepared for higher interest rates and a 10 year treasury yield at 5% or higher. let's bring in susan buckley, q strategy -- liquid 5% heard about this possible possibility. what do you think of this? susan: good morning. yes, u.s. interest rate is heading higher. we expect the federal funds rate to head towards 3% over the next several years. that in itself could force u.s. 3%.ears up above we would not be surprised if the gets to 3% by the end of the year and a positive 4% at some point later next year. ramy: through the australian lens where you are, how that might impact you, what is your biggest concern? australia is at a different part of the cycle. clearly the u.s. is seeing solid growth having had about 4% gdp recently. australia is traveling half that pace of growth, so we have low cash trade here at 1.5%, and we don't expect those to merge for another year, but the markets are pricing no moves until 2020. that could be brought forward. the global economy continues to

jamie dimon talking about hitting 5%.bout a good friend of ours and bloomberg opinion columnist is coming up in about 12 minutes. he is president of a global strategies company. a television exclusive, we will speak with richard of anter, a ceo electricity provider in hong kong. lots to talk about, first half results, the strategy, the outlook for energy. talking about the risks from trade tensions, they get a lot from mainlandess china and australia. they may be more vulnerable to the burgeoning trade war. "daybreak: asia" is up next. ♪ >> is mom-and-pop a.m. in sydney, where we are live. stroud-watts. modest gains after wall street rose a third day. and berkshire hathaway listing energy and financials. the s&p 500 closing at its highest since january. brexit angst sent sterling to an 11 month low. ramy: from bloomberg's global headquarters, i am ramy inocencio in new york. will be in thes spotlight later after snuffing out initial gains following the pboc move must week.

jamie dimon for a while was copying president trump. think he was thinking of running for president at one point. i think he's been cured of that. but he said just as president trump had, the fed is a worrisome thing. his reasons for being worried about the fed are quite different. he was worried about the unwinding of quantitative easing. the president is worried about rising interest rates slowing down the country. the country is wake up. there is a man amongst us who is smart as hell and tough as hell and he's delivering on his campaign promises. we had a shrinking middle class, and the world is respecting america again. judge jeanine: think about two years ago. with all the things happening in the country, you wonder if someone is going to come down the street with a butcher knife and yelling allahu akbar. now we don't think about it anymore. he allowed the generals to do what they do best. the man never sleeps. and a great american and makes us all proud. lou: you make us proud. you are number one. number one. liars, leakers and li

jamie dimon for a while was copying president trump. think he was thinking of running for president at one point. i think he's been cured of that. but he said just as president trump had, the fed is a worrisome thing. his reasons for being worried about the fed are quite different. he was worried about the unwinding of quantitative easing. the president is worried about rising interest rates slowing down the country. the country is wake up. there is a man amongst us who is smart as hell and tough as hell and he's delivering on his campaign promises. we had a shrinking middle class, and the world is respecting america again. judge jeanine: think about two years ago. with all the things happening in the country, you wonder if someone is going to come down the street with a butcher knife and yelling allahu akbar. now we don't think about it anymore. he allowed the generals to do what they do best. the man never sleeps. and a great american and makes us all proud. lou: you make us proud. you are number one. number one. liars, leakers and li

dimon to zero in on the u.s. treasury rates, i think is pretty smart because where i think he is implying, hey, while we've got all this noise going on and this three-ring circus, and the center ring the u.s. economy looks pretty good, and i'm preparing for higher rates >> what would 4% due to the economy right now, do you think? >> well, bill, i think you need tighter capacity, higher inflation, better gdp growth certainly you can't extrapolate this 4.2% number out into, let's say, a rolling four quarters ahead. based on what we're doing, let's say we end the year 3, 3.5, probably on the lower end of that we just don't see rates moving that much higher i think the ten-year -- you look at the ten-year now, it's struggling to stay over 3%, and i think we're at 294 right now to me, you know, that's telling you something. i mean, the bond market, which, you know, i'm an equity strategist, but the bond market is usually smarter than the stocks, and that's telling me we're not going to have a surge or a consistent sur

jamie dimon is now a billionaire we know that lloyd blankfein is a billionaire we know that we have we there's construction going on so our whole crew looks very shocked that there's a noise off screen but just so you know we're out in the public that's kind of food truck i'm having some french canadian bacon delivered for lunch so but we know the top one percent have done a lot better than the past was in two thousand and seven because if the ordinary household in america had seventy thousand dollars more cash that means they would have less at the top all right excellent point because crisis magically put together you know this on norma's wealth redistribution to the top so was it was it a crisis or was it a plan obviously a plan so again like if you tune into corporate media if you tune into the mainstream media the very confused about what is going on why people are so angry because saint obama to them was a great president obama care even though it cost some people like us thirty thousand dollars a year for a product that doesn't actually cover you you know it's all better for the

. >>> back in june warren buffett teamed up with jpmorgan chase ceo jamie dimon to tell the world stopnings report madness. the op-ed in "the wall street journal" screamed, short-termism is harming the economy. in part two of my one-on-one interview with arguably one of the most successful investors of our time, warren buffett slammed the behavior quarterly reports often create, where his companies feel the trump tariff pain, wells fargo's mess and whether apple should buy tesla. there are fewer publicly-traded companies over the past decade. we've seen thousands either be acquired or go out of business. some would say that means fewer employers to choose from. but also, you and jamie dimon of jpmorgan jpmorgan come out and said part of the problem is forcing companies to give quarterly guidance and that tends to destablize things. the business roundtable said they would rather see biannual, twice a year. on top of that, president trump said he would like to see that investigated. what would that change? >> one of the questions, i started out investing in, really when i was 12. when i

24 hours since the big slide for bitcoin, remember you've got whether it's goldman sachs or jamie dimon talking about bitcoin and how that kind of played this currency market, maybe some different opinions on whether that's a good idea as far as investment right now. we're also looking at the housing market today for you. a struggling housing market meant a very strong quarter for home depot as analysts were hoping and many had expected in their forecast for this company. the home improvement store had strong earnings and a very good out look as more people are looking to renovate their homes versus buy. you have had weaker home sales recorded over the last three months or so. that means that folks are going to stay put, start to do some peoples at their homes. yes that helped home depot and now the stock slightly down maybe that was the buy and the rumor sell on the news type we heard that on fbn a.m. anyway let's get back to the news coming out of the white house, today certainly the white house press very focused on the issues of omarosa a lot of questions let's bring in blake burman

isn't that where the goats are >>> jamie dimon is another guy from queens. >> he's from queens?> i think he is if i recall. >> no! >> no way! jpmorgan is about to launch a new app including free trades. you may have seen the news on "squawkbox." it's putting online brokerages under pressure why it is and whether it's warranted. here is another look at futures as we're 17 minutes away from the opening bell ckomg k on the street" cin ba we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab. this wi-fi is fast. i know! i know! i know! i know! when did brian move back in? brian's back? he doesn't get my room. he's only going to be here for like a week. like a mo

morgan has 2% and it's the earnings per share and jamie dimon, the ceo of j.p.nd invest and that to me is j.p. morgan. >> health care is a classic, defensive play. >> yes. >> in most cases and you picked unitedheale'care. >> and are all weather type of stocksnd whether we go through a session which i hope is not in the cards, that's a ayn stock. it 2% dividend and also has great management and they could al, hint, hint, raise the earnings per share versus what they're paying out to shareholders. >> that sector, though, nafht r night we seem to be doing stories how health care isal changing andng about the pharmacy benefit managers or the insurance companies.re yo not worried about investing in that particular sector right now or is the united sector unique? >> if you look at the report, and they guided higher. so the companies le j.p. morgan i just mentioned or any of those types of companies, see what they just reported and what they're saying and both are positive. >> ken mahoney, always good see you. thanks for joining us tonight. >> coming up, honda's new pi

is him that -- economic dimon is him -- dynamism that yassin in -- you see in florida. this is a real case in which outcomes are impacted by freedom. people who for lots of different reasons, the weather, family, natural immunities but on the margins freedom matters and you can see that in states like new york convert a florida look at nevada to produce, 40. california has probably the best weather, great cities, lots of things to do, mountains, beaches, hollywood. and yet 6% of the population has , compared to net nevada which is growing. indiana has lost a little bit of population like a lot of those rust belt states but compare that to illinois with it lost 10% of the population on net. illinois has a great city like chicago, which has grown in terms of its economic dynamism and it's just a great city, lots of things to do. answer if you compare indiana to illinois you can see there's a freedom advantage. you see between massachusetts and new hampshire, vermont and new hampshire. it's just hard to look at these paired comparisons and say we don't think freedom matter

jamie dimon compares cryptic heresy to the dutch seventeenth century. don't these men have a point i mean a bubble forms when there is public ignorance and when most people have a vague idea what it is and how it works. i think that i think you have to point the most people don't really understand what bitcoin is it is peer to peer electronic money that means i have a phone here i can use that phone to transfer money to a nearby phone or to a phone on the other side of the planet the transfer is instant it is practically free nobody gets to decide whether i can make that transaction or not including financial authorities and that in itself will mean a financial revolution this is an extinction level event for banks banks will no longer be a necessary middle. more than anything why i believe this is the future of finance i'm a name that he makes. obviously very popular but it also enables crime to remember the interests want to cry or run somewhere this may this can potentially make governments restrict frequent trait substantially and that drastic slump

jamie dimon and i were on the board of yum brands together, when sandy fired him, i wanted jamie to behe head of home depot. jamie came back and said, no. i want to stay in financial services. i knew i wanted to have a big bet on jamie. and about six years ago they had, j.p. morgan had some so-called tarp warrants that were issued to the government in connection with the tarp debt, which j.p. morgan didn't need it. we started buying those warrants. and j.p. morgan today is my second-biggest holding after home depot. david: where do you think capitalism has worked the best, and by that, not for the individual, but the country? ♪ david: capitalism, you love capitalism. ken: i adore it. david: that is what your book said. why? ken: because it works. david: does it work? ken: absolutely. david: how do you know it works? how do you see that? ken: i know it works by the virtue of my life. my father was a union plumber. he did not make much money. my mother worked in a school cafeteria. so the only money they made is by the virtue of time and their hands. here i show up and i have this whatev

the business roundtable group, which includes apple's tim cook and jamie dimon ofjp morgan chase warnedhat the us is suffering a labour shortage and now is not the time to restrict access to talent. one of europe's biggest airlines, ryanair, is introducing new charges on hand—luggage from november. the budget airline says the charges will reduce delays. it will be free to bring a bag that fits under the seat in front of passengers but brining a second bag to put in the overhead bins will cost more than $7. if you want to get the latest on what is happening in the world of business, go to the website. business live will bring you up—to—date minute by minute almost on what is going on, in particular, who has been talking to the bbc and what they have been saying. if you go to the live aid, the today programme has had the wto, the world trade organisation director—general on, he has been talking about the no—deal brexit scenario, he said britain will have to trade with the eu on world trade organisation terms, and this will come with its challenges. he told the today programme there is a n

seven six three seven six at three am local time his latest ever finish murray will play alexander dimon our last really in the quarter finals his first final eight since wimbledon two thousand and seventeen this is just his third tournaments since having surgery back in january. well there is also a shock upset on thursday a second seed john is or was beaten by fellow american wildcard noah rubin the pair had met just once before earlier this year in the first round french open are open is there one not one but on this occasion would go down in straight sets six four seven six as you can see just how much went into the win ruben who has made it to the servers around wildly shoe appeared to completely fall apart journeying that match. younger brother alexanders of rev came out on top against older brother and defending champion nations of ravin washington to progress to the quarter finals the twenty one year old is seeded number one at the tournaments six three seven five. and kindness to corey's japan the canadian denis shop a love in straight sets to dance the quarterfinals mischa core

night, just after the express passed by, a section of track was dimon i did -- track was dynamited.ad been violated. [explosions] an hour, the japanese railroad garrison launched an attack on the chinese army the slaughter was up -- the chinese army. was appalling. by midnight, the conveniently- placed japanese army rolled across the korea border, and the first act of aggression, the invasion of manchuria, was on. in four days they occupied the ande of southern manchuria, shortly after the whole country. a puppet statee with an obedient stooge on the throne, a weakling the japanese had prepared for the job with seven years of women and song. washington, henry dickson, then secretary of straight and sent aretary of war, committee of five to manchuria to investigate. the committee2, issued its report. the japanese occupation of this large part of china not justified on the grounds of self-defense. it is a new state which has been i japanese protectorate rather than a genuine case of manchuria and self-determination. narrator: the leak condemned japan as an aggressive nation. [foreign

billion think net loss will come back to that in a minute net loss what's the difference let's ask mark dimon steen president of the american postal workers union and bart chilton host of our teams boom bust and former u.s. trading commissioner and a long suffering congressional staffer welcome. and thank you didn't one first brief history lesson from bart you worked on the hill fifteen years ten in the house five in the senate so long before e-commerce and before fedex and u.p.s. became the formidable competitors they are today even then the postal service was under the microscope what was. i mean that you know it used to be that congress funded this up until one nine hundred seventy one that it was actually a post-office department and then it became a self-sustaining it's off budget as it were but supposed to make money from selling stamps and delivering packages and it's done pretty well over the years but they had a rough go of it as you pointed out in your opening and so now people are looking at all sorts of ways to improve and at the scapegoats that are out there with amazon and there

resort to violence workers' union amcu says it will not accept job cuts plans or mass action for me dimon or al jazeera america. for the next two weeks argentina's capital one a service will be taken over by the tango the dance was born in the city in the late nineteenth century and since then it's been spreading to all corners of the world the international tangle festival of world cup attracts fans and competitors from all around the globe that is about reports. it is the dance music of when a scientist. and for two weeks the festival and world cup energizes the argentine capital. and. travel from colombia to compete last year they came in third place this time they're hoping to make it to the top of the news in some must complete anger helps me express what i feel is the most complete dumps and the most beautiful is the anything obama says best of all us in the me and it's an arch that helps you express what you are feeling if you're angry or sad happy or in love you can express everything in a stance. this is the world's most important tango competition almost seven hundred . couples

jamie dimon saying the 10-year could push to 5%.ave got this also in another bloomberg terminal. hop into the gtv library. we can show our viewers where we are right now. 2.94%. can we hit 5%? what is the probability? sri: look at what happened. jamie dimon's reference to the 5% mark was on saturday. on monday, the monday in the united states, we have seen the yield actually go down to bank or three basis points. the market has not reacted with anything like in sympathy. can you reach 5%? yearsears from now, 10 from now, it can be anything. it depends on how the global outlook changes, but i do not see 5% anytime in the near future. i have been looking for that to continue to grow, to get lower, and create tensions that are good for u.s. treasury holders. they are very good for dollar holders. as long as you have a lot of trade support to be supportive here, you continue to see the yields going down and the dollar going up. haidi: do you think the fed is moving too quickly given everything we do not know about the impact of a trade

have been had things continued as it were in two thousand and seven we know that the likes of jamie dimon is now a billionaire we know that lloyd blankfein is a billionaire we know that we have we there's construction going on so our whole crew looks very shocked that there's a noise off screen but just so you know we're out in the public that's not a food truck i'm having some french canadian bacon delivered for lunch so but we know the top one percent have done a lot better than the past was in two thousand and seven because if the ordinary household in america had seventy thousand dollars more cash that means they would have less at the top right excellent point because crisis magically put together you know this on norma's wealth redistribution to the top so was it was it a crisis or was that it was a plan obviously a plan so again like if you tune into corporate media if you tune into the mainstream media the very confused about what is going on why people are so angry because st obama to them was a great president obama care even though it cost some people like us thirty thousand do

have been had things continued as it were in two thousand and seven we know that the likes of jamie dimon is now a billionaire we know that lloyd blankfein is a billionaire we know that we have weak but there is construction going on so our whole crew looks very shocked that there's a noise off screen but just so you know we're out in the public that's kind of food truck i'm having some fresh canadian bacon delivered for lunch so but we know the top one percent have done a lot better than the past was in two thousand and seven because if the ordinary household in america had seventy thousand dollars more cash that means they would have less at the top right excellent point because crisis magically put together you know this on norma's wealth redistribution to the top so was it was it a crisis or was that it was a planned obviously plan so again like if you tune into corporate media if you tune into the mainstream media the very confused about what is going on why people are so angry because st obama to them was a great president obama care even though it cost some people like us thirty th

plus, comments on trade from larry summers, blunt reaction to jamie dimon's forecast for treasury yieldd the head of a chinese hedge fund says, don't run from mainland equities. but up next, earnings, earnings, and more earnings, including results from some optimistic european banks. >> we can see growth also on the customer side and growth on the loan side. michael: this is bloomberg. ♪ ♪ michael: this is "bloomberg best." i am michael mckee. corporate earnings reports were again, a major focus of investor attention this week. our roundup begins with a result from a global banking behemoth. >> hsbc is struggling to produce any significant revenue growth from its long-term bet on asian markets. costs increased 7%. even so, the finance director told bloomberg first and second quarter results were in line with their expectations. >> we saw good revenue growth the first two quarters of the year, and that it's translating to a good reporting profit progress. we continue to invest in the growth of the business and have strong balance. so feeling confident where we stand. david: the pace of w

it's not just gorman, we have jamie dimon, warren buffett, i bet elon musk would not hate this idea either. >> there are two rationales for ceos to want to move to a longer reporting period. one is the practical one of having to fill out forms and calculate numbers and go through the rigmarole of the conference process. ceos are personally responsible that everything is right, so it takes up a large portion of their time. theoretically, if we moved to a longer reporting period, they don't have to run their businesses in a way that will force them to meet currently -- quarterly earnings expectations. ivory want to take the tower approach, ultimately it would be better for shareholders if they ran businesses with a strategic approach. it is more a point that they don't want to go through the rigmarole every quarter. shery: and yet this is a cornerstone of u.s. capital markets, isn't it? investoryeah, from the perspective you get great visibility, you know what is andg on, close to real-time possibly as a result, u.s. markets tend to trade at a higher multiple either more richly valued than t

. >> where do the likes of jamie dimon get 5% and easy a possibility of that happening?> five would be excruciating. a 5% on a 10 year yield into markets the stock market is down, into real estate -- five is terrible. could we get into the three pluses? i believe so. i think we work our way into them and then into higher three pluses. drivenet a trade war inflation, because trade wars cause inflation. they are sales tax increases. have apside is, if you credit shock from a trade war, then we are going to have credit spreads. we could get a double whammy here. this is a high risk position. got potentially inflation coming from oil prices once again on the higher side when you have sanctions being imposed on iran. how does that factor into where you are putting money and what it means to your outlook in terms of stock versus cash versus bond? >> the issue is the energy shock inflation. the fed looks at that and says that is an exogenous shock from outside the system. it is not monetary policy. the federal reserve does not drill for oil. it creates money or manages credit.

dagen: ridge about the stocks are titular lady began over the weekend jamie dimon, head of jpmorgan said this country should brace tell from 5% interest rates. he said he thinks the 10 year yield should be a 4% and we should brace for five. we are staring down $1 trillion annual budget deficit and the treasury is going to be selling a whole wash in the coming weeks. >> when i heard the jamie dimon comments i said perhaps the word of global economy with the tenure in japan been less than one half a percent at close to zero in japan. we cannot unilaterally raise our rates are rapidly. it's a global economy. there is a subtle currency were going on word none of these entities want to raise their current is. they will not ratchet up interest rates. a 5% tenure is not going to happen. we are lucky if get to 4% the way we have the foreign pressure on the currency and interest rate markets. i think if you invest you have to look in the way. our economy is too strong. small caps which are in 75% of revenue domestically versus the s&p 500 which is half of their revenues overseas. it's a safer pla

. >>> getting closer to jamie dimon's 5%, but maybe not. >> not bursting through. >> we had 3% last week it will take some time >> his point over the last few weeks, interest rates are the big surprise to markets, but he says rates going up is a good thing. i don't think it's a big, gosh, this is terrifying >> that's true the important thing is what's driving them higher. if it's real yields pushing up because the economy is doing better, that's a different story. >> in terms of the flattening yield curve, he said the reason it's flat is for a lot of reasons. one is international yields anchoring the long end that's not pointing to a u.s. recession. >> exactly >>> i mentioned a catastrophic wildfire in northern california is exploding in size overnight it's the biggest in the state's history as fire crews are working around-the-clock to contain that blaze it's scorched 284,000 acres of land, destroyed 75 homes it will take several more days to contain the blaze the weather is not cooperating it is hot, it is dry, it is expected to stay that way. this turning into its own humanitarian sto

morgan. >> the requisite dimon mention. >> race to 1:23, who is going to win.n disney. >> on disney >> yeah. >> okay. all right. >> you'll get something -- >> we'll see what the numbers look like. >> and see what jeffrey katzenberg, on the new mobile video venture, dow is up 138 equity trades are just $4.95.. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. here's a trip tip: when you search hotels on tripadvisor... enter your destination and the dates of your stay. tripadvisor searches over 200 booking sites... to find the best deal on the right hotel for you. tripadvisor. ♪ >>> good tuesday morning welcome back to "squawk on the street." david faber at the new york stock exchange and sarah has the morning off. we continue to trend higher towards the record high for the dow, 1,000 points to go and s&p which has about 16 points to go. a lot more talk about trade in china, election day in several states as well. >> well, key issues, our road map starts with asking for exemptions and b